Global Ground Support Equipment Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report insinuates that the global ground support equipment market is forecasted to register growth at a CAGR of 11.43% in the projected phase 2022-2028.
The growth of this market is being fueled by the rise in air traffic & globalization trends. In addition to this, the expected increase in the number of air travelers as well as the rise in the number of airports & terminals under construction are also supporting the market growth. Besides, the growth in the spending on airport infrastructure has significantly raised the demand for ground support equipment at these sites.
However, difficulties pertaining to the maintenance and replacement of these equipment are significantly hampering their adoption. Moreover, the high initial investment required to support GSE is deterring several operators from setting up these systems. On the positive side, the integration of wireless technologies in these equipment is expected to encourage end-users to adopt them. Also, numerous technological advancements are also offering lucrative opportunities for the ground support equipment market’s growth.
REGIONAL OUTLOOK
The global market for ground support equipment covers the Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.
The market in the Asia-Pacific is expected to showcase the fastest growth globally, during the forecasted period. Factors such as the increasing air traffic as well as the increase in air cargo transportation are primarily driving the growth of the market in this region. Besides, there has been a significant growth in tourism in the region, which has boosted the aviation industry largely. This, in turn, has boosted the demand for ground support equipment, which is fostering the growth of the market in the APAC.
COMPETITIVE OUTLOOK
The key players profiled in the report on the ground support equipment market include TLD Group, Champion GSE, Charlatte America, Mulag Fahrzeugwerk, Cobus Industries GmbH, CIMC Tianda Holdings Co Ltd, Tronair, JBT Aerotech, Merlinhawk Aerospace, Mallaghan, Hydro Systems KG, ITW GSE APS, Weihai Guangtai Airport Equipment Co Ltd, Kalmar Motor AB, Rheinmetall AG, Cavotec SA, Air Mak Industries Inc, Aero Specialties Inc, and Textron Ground Support Equipment Inc.
John Bean Technologies (JBT) develops systems and equipment for two industries, food and airport. The company classifies its business into two segments: JBT FoodTech and JBT AeroTech. JBT Aerotech serves the aviation industry. The company captures a large market share in the ground support equipment market and is a well-known brand. It has a business presence in several countries worldwide and is headquartered in the US. A major chunk of its revenue is generated from North America, followed by Europe and the Asia-Pacific. JBT has a strong workforce of 6200 employees across the world, and was established in the year 2008.
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